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ADOLPH COORS CO. REPORTS ON ANNUAL MEETING HIGHLIGHTS

 ADOLPH COORS CO. REPORTS ON ANNUAL MEETING HIGHLIGHTS
 GOLDEN, Colo., May 14 /PRNewswire/ -- A highlight of the 1992


Adolph Coors Co. (NASDAQ: ACCOB) Annual Shareholders Meeting was an announcement by Chairman William K. Coors of the company's proposal to create another public Coors company. Under the proposed plan, Coors Brewing Co. would remain essentially intact. The technology companies -- Coors Ceramics Co., Golden Aluminum Co., Graphic Packaging Corp. and three smaller developmental companies, Golden Technologies Co. Inc., ZeaGen Inc., and MicroLithics Corp. -- would be grouped under a new holding company, tentatively called "AC Technologies".
 Coors explained the reasons for the proposed transactions: "By dividing our businesses into two tightly focused companies, we gain two very important market advantages.
 "First," he said, "we acknowledge the very different environments in which they operate and free them to focus on their own areas of expertise. And second, we gain enhanced financial flexibility and improved access to capital for all of our businesses," he added.
 Coors emphasized that the proposed plan was contingent on the resolution of a number of tax and other contingencies and predicted that, assuming the plan is approved by the board of directors, the transaction could be completed by the end of this year.
 Beyond the news of the proposed spin-off, company officers focused on key strategies for improved returns.
 Coors Brewing Co. President Peter H. Coors reported on 1991 highlights for the beer business. Coors Brewing Co. achieved the highest volume growth among major U.S. brewers in 1991. In addition, this company invested heavily to secure additional capacity. "In 1991, we spent approximately $235 million to upgrade our Memphis brewery and expand facilities in Golden, Colo. and Elkton, Va.," Peter Coors said. "The Memphis Brewery has increased our fixed costs by approximately $30 million annually. But we have secured an annual capacity of approximately 23 million barrels," he added.
 Other major highlights for Coors Brewing Co. in 1991 included three new product introductions: Coors Cutter -- a non-alcoholic beverage, Keystone Dry and Coors Dry. Also, in 1991, the company completed several successful expansions into overseas markets.
 Coors also reported on strategies for improved returns, including increased capacity utilization, new product introductions and focused marketing efforts.
 Peter Coors, who would remain president of Coors Brewing Co. under the proposed new company structure, was optimistic about the proposed transaction.
 "I believe Coors Brewing Company would derive terrific benefits from the transaction," he said. "Success in the beer business is an intensely competitive proposition. My staff and I welcome the opportunity to focus our energies on that challenge," he concluded.
 Officers of the technology businesses were also enthusiastic about the plan. Joe Coors, Jr. and Jeff Coors reported together on their vision for the proposed new company, "AC technologies". They would manage the new company under an "Office of the President" concept. Top officers would include Jeff Coors, Joe Coors, Jr., Harold Smethills and a chief technology officer, yet to be named.
 "A significant number of American Companies, especially those with diverse highly technical businesses, are moving toward this 'Office of the President' concept," explained Joe Coors, Jr. "This innovative management concept will enable us to combine our considerable experience and expertise in different technologies and build a successful business," he added.
 Jeff Coors concurred: "We're not interested in titles and hierarchy. Instead, we want to focus on the business at hand. Joe and I are very excited about taking this next step and bringing the technology businesses together."
 Business reports on the technology companies demonstrated the potential scope of the new company. Coors Ceramics Co. is marketing products in a number of high-technology niches. They make ceramic parts that help trigger air bags, electronic packages for defense and other applications, and "ferrules" that are used as connectors in fiber optic technology.
 Graphic Packaging Corp. reported stellar results for 1991, including a sales increase of 21 percent and an increase in operating income of approximately 75 percent. Golden Aluminum Co. continues to work on customer qualifications for rigid container sheet from its new San Antonio aluminum rolling mill, and expects to triple its current annual capacity when that plant gains full commercial production.
 "When you group these companies together, you can see that they're ready to move out on their own," said Jeff Coors. "In 1991, the combined technology companies contributed 26 percent of sales, or nearly $550 million."
 Bill Coors closed the meeting with an optimistic thought. "If our plan to spin-off the businesses moves forward, at this time next year, you may be coming to two annual meetings," he said. "But don't worry -- we'll still serve the finest beer in America at both," he concluded.
 The company also announced that on May 13 the board of directors of Adolph Coors Co. (ACCOB) declared a quarterly dividend of 12-1/2 cents per share, payable June 15, 1992, to shareholders of record May 31, 1992.
 -0- 5/14/92
 /CONTACT: Anita K. Russell or Becky Winning both of Adolph Coors Co., 303-277-7152/
 (ACCOB) CO: Adolph Coors Co. ST: Colorado IN: FOD SU:


MC -- DV009 -- 0537 05/14/92 20:31 EDT
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Date:May 14, 1992
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